Corn futures posted 3 to 7 cent gains on Tuesday, as nearby March closed a dime off $5 and other nearbys close near that mark. The national average Cash Corn price from cmdtyView was up 5 3/4 cents at $4.55 3/4.

Export Inspections data showed a total of 1.541 MMT (60.68 mbu) of corn shipped in the week that ended in January 16. That was more than double the same week last year and 6.88% above the week prior. Japan was the top destination of 405,010 MT, with 347,525 MT headed to Mexico and 274,155 MT to South Korea. Marketing year shipments have totaled 19.25 MMT (757.8 mbu), a 30.54% increase from last year.

On Monday, President Trump signaled a less aggressive approach to tariffs and has delayed implementation to review current trade agreements and policies with China, Canada, and Mexico. He also threw out a potential February 1 start date for 25% tariffs on Mexico and Canada. 

AgRural estimates the first corn crop at 4.1% harvested as of last Thursday in the Center-South region of Brazil. The second crop was listed at 0.3% planted.

Mar 25 Corn  closed at $4.90, up 5 3/4 cents,

Nearby Cash  was $4.55 3/4, up 5 3/4 cents,

May 25 Corn  closed at $4.99 3/4, up 6 3/4 cents,

Dec 25 Corn  closed at $4.59 3/4, up 3 3/4 cents,

New Crop Cash  was $4.31 3/4, up 3 1/2 cents,